Raising venture capital for your tech start-up? Unfortunately, raising funds required more than just a great product or service. Before tech start-up founders even consider pitching to investors, there is a number of key considerations to be made.
Subhaga Amarasekara, CEO and co-founder of Sydney based beauty-tech start-up FLAYR shares her five tips to give start-ups the best chance of securing funding:
- Create an initial product to test with customers – It shows investors that you have tenacity, creativity, and perseverance to test your concept in the marketplace.
- Show investors that your idea will happen, with or without them – Demonstrating to investors that your business will continue to develop with or without them. Their investments are for the purpose of scaling the business.
- Clearly articulate how big the market size is for your product – Provide market research that supports the opportunity.
- Have a clear mission – Ideas and products must be backed by clear goals and objectives.
- Show how your team’s skills are diverse yet complimentary – A successful business is made from a group of people with varying strengths that create a cohesive, well-functioning team.
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